NOW is the time to Invest & Stay and make Australia your home.
Measured on a global basis, Australia has been relatively less affected by Covid-19 directly and indirectly than most developed economies. Australians are not used to economic changes as, for the last 29 years, the country has not had a recession measured as two consecutive quarters of economic contraction. Covid-19 changed that.
Yet, the government quickly responded to the international effects of a pandemic that was slowing economies down globally. The Australian economy, due to its natural resources, can be pump-primed quickly and in a way which would make Keynes proud.
Australia’s strong economic performance, coupled with its exceptionally low levels of sovereign debt, has enabled it to quickly borrow large amounts of money at less than 1% per annum which will see more than USD 200 billion pumped into the economy through tax cuts, employment subsidies and business tax concessions.
In addition, huge amounts have been allocated to research & development grants.
One of the budgetary surprises was Australia’s population is actually falling. There is only one answer for this and that is migration.
Migrants need homes and schools for their children. There will be a strong preference for those who bring entrepreneurial skills and capital or, in short, create jobs. Australia is very proud of its track record in the development and commercialisation of technology.
Equally, development needs to be spread around Australia so there will be considerable incentives to create jobs outside Sydney, Melbourne and Brisbane.
We can expect strong support for manufacturing, particularly for export and import substitution.
Given Covid-19 travel restrictions, people currently in Australia are more likely to be able to meet the tests for migration which include English language skills, professional training and experience and investment resources (own and/or VC fund).
There are some visa classes like 132B and the 188 series which rely on state/territory sponsorship. Each will be looking for job creation across this state or territory.
The government has announced subsidies which should create 150,000 new jobs and this will have flow on effects.
Also, given the bipartisan drive to create jobs, develop technologies and encourage investment, there will be no better time than now, since the end of WWII, for people to plan to come and grow their business in Australia – it’s government and its people will be welcoming.
Now is the time to plan to invest and stay and make Australia your home.
With the government´s support of major infrastructure. including power generation. Australia can expect to see another 29 years of uninterrupted growth – that will be something that’s exciting to be part of.
When the government announced its massive investment in the nation it was done knowing that the money could be borrowed at less than 1% per annum and it has more than a decade to work out his refinancing strategy, so there is never been a better time to invest in the lucky country.
It will be a great time to be part of a new growth story and shared prosperity.
Australia is protected by the natural isolation of being an island-continent which is blessed with resources and exports enough food to feed another 50 million people.
Australia is located in the fastest-growing part of the world and is already an acknowledged exporter of services and quality food items let alone minerals and energy.
It is now time to come to Australia contribute to its growth and become part of the story. Doors are now open for skilled investment migrants and their families.
By Paul Raftery, CEO, Projects RH
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